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In the insurance business, there is no statute of limitation on stupidity.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Statutes
Insurance
Limitation
Stupidity
Business
Statute

More quotes by Warren Buffett

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A single year's performance is of minor importance and, good or bad, should never be taken seriously.
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It's not debt per say that overwhelms an individual corporation or country. Rather it is a continuous increase in debt in relation to income that causes trouble.
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To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. You must supply the emotional discipline.
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I always say that in investing you want to buy stock in a company that has a business that's so good that an idiot can run it, because sooner or later one will. We have a country like that.
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We will prosper or suffer in controlled investments in relation to the operating performances of our businesses - we will not attempt to profit by playing various games in the securities markets.
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Knowing what to leave out is just as important as knowing what to focus on.
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Our approach is very much profiting from lack of change rather than from change.
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In fact, in my adult lifetime, I don't think I've ever seen people as fearful economically as they are right now.
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I happen to have a talent for allocating capital. But my ability to use that talent is completely dependent on the society I was born into. If I'd been born into a tribe of hunters, this talent of mine would be pretty worthless. I can't run very fast. I'm not particularly strong. I'd probably end up as some wild animal's dinner.
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A lot of people disagree with me on this, I believe in mark to market.
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We've got a wonderful economic formula in this country.
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I just don't see anything available that gives any reasonable hope of delivering such a good year and I have no desire to grope around, hoping to 'get lucky' with other people's money. I am not attuned to this market environment, and I don't want to spoil a decent record by trying to play a game I don't understand just so I can go out a hero.
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An irresistable footnote: in 1971, pension fund managers invested a record 122% of net funds available in equities - at full prices they couldn't buy enough of them. In 1974, after the bottom had fallen out, they committed a then record low of 21% to stocks.
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I'm not worried they're all about the investments we make. I mean, listen, this country - we've got $46,000 or $47,000 of GDP per capita. Now, we've done pretty darn well. We'll do better in the future.
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Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.
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If I got a chance to take one percent of the deal either way, I would make that bet.
Warren Buffett
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Inflation could be a very - is a likely consequence out of what's going on now.
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The greatest Enemies of the Equity investor are Expenses and Emotions.
Warren Buffett
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Fear is the foe of the faddist, but the friend of the fundamentalist.
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If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter.
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